Transcription of Cash Conversion Cycle Across Industries
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Cash Conversion Cycle Across Industries
1 A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA School of Business and Economics. Cash Conversion Cycle Across Industries BARBARA REIS DA COSTA Nr. 1265 A Project carried out under the supervision of Professor: Leonor Fernandes Ferreira 6th January, 2014 2 Abstract The purpose of this research is to assess whether Cash Conversion Cycle differs between Industries via their components, namely Days Inventory Outstanding, Days Sales Outstanding and Days Payables Outstanding. Based on a sample of multinational companies from two different Industries , Fast Moving Consumer Goods and Airline industry for the period 2009-2012, the results suggest that Cash Conversion Cycle differs between Industries .
Cash Conversion Cycle (CCC) is usually defined as a metric that expresses the length of time that it takes for a firm to convert resources into cash flows. This has a negative impact on companies’ profitability and liquidity since it is being deprived of using cash due to a non-optimal working capital management, as studied by many
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